Gold October futures contracts at MCX opened flat today at Rs 71,505 per 10 gram, which is up by 0.11% or Rs 79 while silver December futures contracts were trading at Rs 83,049/kg, up by 0.35% or Rs 292. The prices of gold fell by Rs 400/10 gm in the last 2 days while silver
Month: September 2024
The U.S. economy created slightly fewer jobs than expected in August, reflecting a slowing labor market while also clearing the way for the Federal Reserve to lower interest rates later this month. Nonfarm payrolls expanded by 142,000 during the month, up from 89,000 in July and below the 161,000 consensus forecast from Dow Jones, according
NFPs weren‘t weak at first glance, but the buying squeeze anticipated, was really short-lived, and shifting rate cut odds influenced. In spite of Waller opening the 50bp Sep cut possibility, the real odds didn‘t go up and remained at 30% only, and that‘s after Williams quite confirming 25bp cut. This comes after the (in my
The NASDAQ index is trading to a new session low and to the lowest level going back to August 12. The move to the downside is off of mixed/weaker US jobs report. The nonfarm payroll rose less than expectations (142K vs 160K estimate) with the prior months being revised lower by 86,000 as well. The
gold monthly China’s central bank didn’t report any gold purchases in August, saying that reserves remain at 72.80 million troy ounces. Reported buying halted in May after many months of accumulation. Reports afterwards suggested the PBOC had grown price sensitive. in February the PBOC bought 390,000 ounces in March, 160,000 in April, 60,000 A few
Gold prices eased on Friday, retreating from near-record levels reached earlier, after mixed U.S. jobs data cast doubts on the scale of interest-rate cut from the Federal Reserve this month. Spot gold fell 0.3% to $2,509.35 per ounce by 10:21 a.m. ET (1421 GMT), having hit their highest since Aug. 20, when gold last scaled
Khalid Al-Falih, Saudi Arabia’s investment minister, during the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 8, 2023. Bloomberg | Bloomberg | Getty Images Saudi Minister of Investment Khalid al-Falih pushed back against skepticism over the country’s economic diversification plan, as Riyadh touts “green shoring” investment opportunities to woo foreign financing. “There was many
Gold tumbles after failing to break $2,531 resistance, closing at $2,493 as Fed rate cut speculation intensifies. US Nonfarm Payrolls missed estimates, but improved figures and rising hourly earnings fueled uncertainty over a 25 or 50 bps cut. Despite falling Treasury yields, the US Dollar Index recovered above 101.00, pressuring Gold prices further. Gold retreated
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What is an Order Block in Forex Trading? In this video, we break down everything you need to know about order blocks in forex trading. Whether you’re a beginner or an experienced trader, understanding order blocks is key to mastering market structure and improving your trading strategy. Learn how order blocks influence price action, how
The USDCAD has moved to a new high and reach the next technical target at 1.35535 (see, mom months absent concepts and). THe price has not been above that moving average since August 7 nearly one month ago. A break above that level would have traders looking toward its 200-day moving average of 1.35880. Earlier
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Copper has declined by more than 17 percent from its lifetime highs. Tepid demand from China, surging inventories in warehouses, and a strong US dollar have contributed to the bearish sentiment in prices. Copper inventory levels at different warehouses have reached multi-year highs. Latest London Metal Exchange (LME) data show that inventories in the LME-registered
Getty Images The August jobs report came in weaker than expected, and employment growth by different industries showed a mixed bag for the U.S. economy. The growth was led by leisure and hospitality and health care and social assistance, with each category adding more than 40,000 jobs, according to data from the Bureau of Labor
The NZD/JPY pair fell sharply on Friday and reaching a low of 87.85. The RSI has plunged to 36, indicating that the bears are in full control and the negative momentum is likely to persist. Bears have the 87.00 threshold on their sight. The NZD/JPY pair has maintained its bearish stance, extending the selloff that
Investors expressed clear dissatisfaction with last week’s US non-farm payroll report, not much due to a miss in job growth expectations, but data left the size of the upcoming Fed rate cut unsettled, raising fears that Fed’s indecisive stance could worsen the already fragile economic outlook. In response, US equity markets ended the week sharply
The NZDUSD has moved higher. It is now moving lower in volatile trading as it digests the US jobs report and comments from Fed officials this morning including Feds Waller, Feds Goolsby, and Feds Williams. Stocks are moving lower which is leading to some risk off in the NZDUSD as well. Technically, the pair is
On Friday, shares of Nvidia fell 4% and chipmakers dragged the Nasdaq to its lowest in the three weeks. One reason for the sell-off was a Goldman Sachs note from Peter Oppenheimer arguing that traffic to ChatGPT was plunging. Goldman published this chart, which was later widely circulated (including in the Financial Times). It showed
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